Cheap Studio Apartments for Rent in the Downtown Indianapolis Neighborhood of Indianapolis, IN from $585 (46 Rentals)

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

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Downtown Indianapolis - One of the Best Affordable Neighborhoods in Indianapolis

Named as one of the Best Affordable Neighborhoods to rent in Indianapolis by our Local Expert Wendy Melton. See how it ranks!

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Rotherwood
Studio Apartments

Rotherwood

1503 N Pennsylvania StIndianapolis, IN 46202
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The Jordan
Studio Apartments

The Jordan

1445 N Delaware StIndianapolis, IN 46202
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Windsor
Studio Apartments

Windsor

1235 N Delaware StIndianapolis, IN 46202
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Victoria Apartments
Studio Apartments

Victoria Apartments

1244 N Illinois StIndianapolis, IN 46202
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The Harrison
Studio Apartments

The Harrison

1320 N Delaware StIndianapolis, IN 46202
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PICCADILLY
Studio Apartments

PICCADILLY

28 E 16th StIndianapolis, IN 46202
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The Marleigh
Studio Apartments

The Marleigh

1434-1448 N Delaware StIndianapolis, IN 46202
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Stonegate Apartments
Studio Apartments

Stonegate Apartments

1220-1226 N Illinois StIndianapolis, IN 46202
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Van Dyke
Studio Apartments

Van Dyke

1229 N Pennsylvania StIndianapolis, IN 46202
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Spink
Studio Apartments

Spink

1433 N Pennsylvania StIndianapolis, IN 46202
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The Vue
Studio Apartments

The Vue

718 E Georgia StIndianapolis, IN 46202
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632 MLK Apartments
Studio Apartments

632 MLK Apartments

632 Dr Martin Luther King Jr StIndianapolis, IN 46202
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Downtown Indianapolis, Indianapolis, IN Local Guide

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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Frequently Asked Questions about Cheap Downtown Indianapolis Apartments

What is a cheap apartment in Downtown Indianapolis?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Indianapolis is under $962.

What is the price of a cheap apartment in Downtown Indianapolis?

The cheapest apartment in Downtown Indianapolis is Priscilla on Pennsylvania which is listed at $875, while the average apartment in Downtown Indianapolis costs $2,095.

What types of apartments are the cheapest in Downtown Indianapolis?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 75 regular apartments in Downtown Indianapolis that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Downtown Indianapolis?

Cheap apartments in Downtown Indianapolis have an average cost of $376 which is $1,719 cheaper than the average rent for all rentals in Downtown Indianapolis.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

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A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Indianapolis

Written by: Wendy Melton

Indianapolis is not only the state capital of Indiana, it’s also a shining example of what Midwestern living is all about. I’m Wendy, your ApartmentHomeLiving.

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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.